Housing sales to decline in Apr-June on poor Hyderabad, Pune demand
As per the data, housing sales in April-June are estimated to fall at 1,19,901 units as against 1,21,856 units in the year-ago period.
New Delhi: Housing sales are estimated to decline 2 per cent to nearly 1.20 lakh units in the current quarter across nine major cities, mainly due to lower demand in Hyderabad and Pune, according to PropEquity.
Real estate data analytic firm PropEquity on Thursday released housing sales data for April-June, 10 days before the end of the quarter.
As per the data, housing sales in April-June are estimated to fall at 1,19,901 units as against 1,21,856 units in the year-ago period.
In Delhi NCR, sales of residential properties are likely to rise to 10,198 units during April-June this year from 9,635 units in the year-ago period.
Housing sales in Bengaluru are likely to rise to 15,127 units from 15,088 units.
In Chennai, the sales are likely to fall to 4,841 units from 4,950 units. Sales in Hyderabad are estimated to decline 20 per cent to 15,016 units from 18,757 units.
In Kolkata, sales are likely to rise to 5,130 units from 4,025 units. Housing sales in Mumbai are estimated to fall marginally to 13,032 units from 13,219 units. Navi Mumbai is likely to witness a 36 per cent growth to 9,035 units from 6,640 units. Housing sales in Pune are seen falling 15 per cent to 22,482 units from 26,586 units. In Thane, the sales of residential properties may rise 9 per cent to 25,041 units in April-June from 22,956 units in the year-ago period.
PropEquity said that sales in April-June are estimated to decline 18 per cent compared to the previous quarter which saw sales of 1,46,1947 units.
PropEquity Managing Director and Chief Executive Officer Samir Jasuja said the January-March period was an extraordinary quarter with the highest absorption/ sales ever witnessed in India. The April-June quarter is usually the slowest quarter compared to other quarters with respect to supply and absorption/sales, it added.
PropEquity is a real estate data and analytics company tracking over 1,73,000 projects of 57,500+ developers across 44 cities in India on a real-time basis, according to a statement. — PTI
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